Technology in Construction is Now a Reality, with Drones Leading the Charge
Building Up To Smart Skyscrapers
The Big Renewable Projects You Should Know About
NSW's New Construction Plan Calls for Transparency and Collaboration
Can Affordable Housing Even Out Construction Cycle?
How to Gain Leads and Get Ahead of the Competition
How Digital Drawings Are Transforming Construction
The New Green Toolkit — What You Need to Know
By Martin crutsinger, ap economics writer
September 1, 2017
WASHINGTON (AP) — U.S. construction spending fell in July for the third time in four months as strength in home construction wasn't enough to offset weakness in nonresidential building and government projects.
Construction spending dropped 0.6 percent in July following an even bigger 1.4 percent decline in June, the Commerce Department said Friday. Spending on home construction rose 0.8 percent as single-family homes and remodeling offset a drop in apartments.
Spending on nonresidential projects fell for a second straight month, declining 1.9 percent. Spending on government projects fell 1.4 percent.
With the recent weakness, construction spending is only 1.8 percent higher than a year ago at a seasonally adjusted annual rate of $1.21 trillion.
Analysts expect construction will provide modest support for the overall economy in the months ahead.
The fall in nonresidential activity in July was the biggest setback in nearly two years, since a 2.1 percent decline in October 2015. In July, spending on offices, shopping centers and hotels all declined.
Spending on government construction projects was down 1.2 percent at the federal level and 1.4 percent at the state and local level.The government reported earlier this week that the overall economy grew at a brisk 3 percent pace in the April-June quarter, up from a lackluster 1.2 percent gain in the first quarter, as measured by the gross domestic product.
However, spending on residential construction actually fell at a 6.8 percent rate in the spring following a sizable 11.1 percent gain in the first quarter. Economists believe the spring slowdown in home building was in part a payback after unusually warm weather had boosted activity in the winter.
Materials Prices Rise Only Gradually After ’15 Slump
When life is so busy, it can be easy to get into an unhealthy routine. Here are 11 easy ways to break up your routine and live a healthier, happier life…#1 Make your lunches for the entire week…on ... Read More
Maintaining a streamlined and efficient workflow is one of the primary goals of any construction firm. However, whether due to a lack of skilled la... Read More
Budget. Schedule. Quality. The trifecta of a project. But balancing that trifecta isn't easy to do. Our webinar, led by construction industry exper... Read More
Tim Kelly, S&P Technical Services Manager, looked at numerous document management systems, including EADOC and "probably 10 other systems." What bo... Read More
Workplace safety is a front-of-mind concern for any responsible construction company. Strict adherence and compliance with safety training regulati... Read More
Any construction company will have lots of data sloshing around, and many still rely on archaic methods of logging, filing and using that data, typ... Read More
May 14, 2018
The construction industry is on the rebound after the Great Recession and spending is at an all-time high. In November, investment in new projects ... Read More
May 21, 2018